Oando under fire from Nigeria's SEC
The future of one of Nigeria's flagship energy companies hangs in the balance
A two-year battle over financial irregularities between Oando—one of Nigeria's largest indigenous oil and gas operators—and the country's Securities and Exchange Commission (SEC) reached a crescendo in May, when the capital markets regulator ordered the firm's entire board to resign. The SEC said it had made the move in response to manipulations of the company's fiscal position. In addition, it barred Wale Tinubu and Omamofe Boyo, the chief executive and his deputy respectively, from holding corporate office in Nigeria for a five-year period. "There were several corporate governance lapses stemming from poor board oversight," the regulator said in documents relating to its investigation. It
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
